The adjusted trial balance for Plevin Company is presented in E4-8. In E4-8, Plevin Company ended its fiscal year on July 31, 2014. The company’s adjusted trial balance as of the end of its fiscal year is shown below.
Instructions (a) Prepare an income statement and an owner’s equity statement for the year. Plevin did not make any capital investments during the year. (b) Prepare a classified balance sheet at July31.